Item 8.01. Other Events.
On October 28, 2015, the Company issued a press release regarding the recent fire at Silimed's manufacturing facilities and other business updates, including that, as previously disclosed, the Company has multiple term loans outstanding under an Amended and Restated Loan and Security Agreement, dated June 30, 2014, by and between Oxford Finance LLC ("Oxford") and the Company (the "Loan Agreement"), and on October 27, 2015, Oxford issued a notice to the Company indicating that, in connection with the recent events involving Silimed and the Company, certain events of default have occurred and continue to exist under the Loan Agreement. On October 28, 2015, the Company repaid all principal, interest, other amounts and obligations owed to Oxford under the term loans for a total of $24.5 million, following which the Company has no outstanding debt obligations. The Company remains well funded with cash and cash equivalents as of September 30, 2015 of $148.9 million prior to the payment of all amounts due and owed under the Loan Agreement. A copy of the press release is filed as Exhibit 99.1 and is incorporated herein by reference.
TTPH: a brilliant bounce play for the week - Called to email@example.com this monday, once up +35.6% to today's 12.84.
For more update to my picks, please google my blog name (Bluelightnewsletter) if you'd like.
Thanks! Happy trading!